Architect reports increase in revenue and profit, but director takes 80% pay cut
Architect Benoy鈥檚 sole director has taken massive pay cut despite the firm reporting a 30% jump in pre-tax profit.
In accounts filed at Companies House, Benoy Limited reported pre-tax profit of 拢8.2m for the year to 31 December 2012, up from 拢6.3m the previous year.
However, the firm鈥檚 sole director, Graham Cartledge, took a pay cut of 80%. He received remuneration of 拢647,210 in the year, down from 拢3.2m the previous year.
But Cartledge鈥檚 pay was similar to what he received in 2010, when he was paid 拢605,000.
The firm also reported an 8% rise in revenue to 拢41m in 2012, up from 拢38m in 2011.
Writing in the accounts Cartledge said he was 鈥減leased鈥� with the overall performance of the business during the year.
He added: 鈥淭he business continues to benefit from a portfolio of work spread across sectors, countries and client base. The business will continue to invest in overseas opportunities.鈥�
Benoy increased its complement of architects in the year to an average of 429, up from 390 in 2011.
But turnover per employee fell slightly to 拢88,562 from 拢90,314.
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